As China deals with Covid, nearly 1 in 4 European firms consider moving out

Of the firms considering a shift in investment, 16% said they were looking at relocating to Southeast Asia, while 18% said they were looking elsewhere in the Asia-Pacific region

Nearly one in four European companies in China are considering shifting their investments out of the country as the ongoing Covid outbreaks and lockdowns dim the outlook for the world’s second-largest economy, a survey showed. 

 

Some 23% of the businesses that responded to the survey are thinking of moving their current or planned investments away from China, according report released Monday by the European Union Chamber of Commerce in China. The survey was conducted at the end of April, when Shanghai was still in shutdown and restrictions in places like Jilin disrupted business activity.   

The number of European firms